How Cloudflare (NET) Makes Money: A Visual Guide
Cloudflare (NET) generated $2.17B in revenue (TTM through Q4 2025) but reported a net loss of $102.27M. Its largest revenue source is Reportable Segment (100% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.
Cloudflare (NET) Income Statement Flow
Frequently asked questions
How does Cloudflare (NET) make money?
- Cloudflare (NET) primarily makes money through Reportable Segment, which accounts for 100% of total revenue. For TTM through Q4 2025, Cloudflare generated $2.17B in total revenue with a net profit margin of -4.7%.
What is Cloudflare (NET) gross profit margin?
- Cloudflare (NET) reported a gross profit margin of 74.7% for TTM through Q4 2025, equivalent to $1.62B in gross profit. This means Cloudflare retains 74.7% of each revenue unit after direct costs of production.
What is Cloudflare (NET) operating profit margin?
- Cloudflare (NET) reported an operating profit margin of -9.4% for TTM through Q4 2025, equivalent to −$203.41M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Cloudflare (NET) net profit margin?
- Cloudflare (NET) reported a net profit margin of -4.7% for TTM through Q4 2025, equivalent to −$102.27M in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Cloudflare (NET) invest in R&D?
- Cloudflare (NET) invested $512.49M in research and development in TTM through Q4 2025 (23.6% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Cloudflare (NET) spend on capital expenditures?
- Cloudflare (NET) spent $342.55M on capital expenditures in TTM through Q4 2025 (15.8% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Cloudflare (NET) free cash flow?
- Cloudflare (NET) generated $324.32M in free cash flow for TTM through Q4 2025 (15.0% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
About this data
- What is a Sankey diagram?
- A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
- How is the data calculated?
- We use the income statement from company filings. For TTM (Trailing Twelve Months), we sum the last four quarters. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
- When was this data last updated?
- Based on company filings through TTM through Q4 2025.